Liberty Global posts Q4 profit
February 26, 2010
Liberty Global reported fourth-quarter revenues up 19 per cent from a year earlier to $3 billion, helped by solid growth in its digital TV and broadband customer bases.
Revenues rose 7 per cent and operating profit rose to $469 million from $225 million a year earlier, and the net result improved to a profit of $100 million versus a loss of $753 million.
The cable group added a net 321,300 revenue-generating units in the quarter for a total 27.1 million at year-end, in what the company said was the strongest quarter for organic susbcriber additions in two years. The traditional TV subscriber base fell by 432,700 to 7.2 million, while digital TV subscribers increased by 382,000 to 6.7 million. Digital gains were supported by the Dutch and Belgian operations, and the European division UPC increased its digital penetration to 34 per cent of customers at the end of 2009 from 24 percent a year earlier.